About the LCR Meter Market
LCR meter is a testing and measuring (T&M) equipment used to measure inductance (L), capacitance (C), and resistance (R). The types of LCR meter are as follows:
Technavio Announces the Publication of its Research Report – Global LCR Meter Market 2016-2020
Technavio recognizes the following companies as the key players in the global LCR meter market: Applent, B&K Precision, Chroma, Doble Lemke, Extech Instruments, GW Instek, Hameg Instruments, Hioki EE, IET Labs, Keysight Technologies, MECO Instruments, National Instruments, Newtons4th, Rohde & Schwarz, Sanwa Electric Instrument, Scientific Mes-Technik, Siborg Systems, Stanford Research Systems, Tecpel, and Yokogawa.
Commenting on the report, an analyst from Technavio’s team said: “A trend influencing market growth is interoperability of T&M Equipment. The use of electronic and electrical products requires high interoperability of T&M equipment, so that the users can avoid using a particular manufacturer’s products for a lifetime. End-users of T&M equipment are facing problems due to incompatibility among products and the equipment. This is posing a challenge for the vendors of T&M equipment because it leads to loss of customer base. Hence, vendors are compelled to conduct the interoperability test to ensure compatibility with different products.”
According to the report, a key growth driver is the rise in exports of electronics. The need for mid and low-end products like LCR meters, oscilloscopes, and multimeters is sustained largely due to increased demand from the education sector, especially universities, polytechnic institutes, and training laboratories in APAC. The steady growth of the semiconductor and electronics market in APAC is driving the growth of the LCR meter market in this region. The boom in the electronics sector is due to the growing penetration of smartphones.
Further, the report states that highly competitive market will be a challenge for the market. The market is highly competitive, with continuous advances in technology. The vendors need to invest heavily in order to use better technology than their competitors. Many companies outsource their manufacturing operations in order to reduce expenditures. Competition among the existing players is intense. As the market is seeing a high growth, it is attracting a large number of vendors. Entry of new vendors leads to price wars in the market, due to which they have to focus on end-user requirements. This increases the bargaining power of end-users and reduces the sales potential and revenue of the vendors. Increased vendor competition is also likely to reduce the quality, as the vendors might compromise on the quality while focusing more on the price. This, in turn, will affect the LCR meter vendors.
Applent, B&K Precision, Chroma, Doble Lemke, Extech Instruments, GW Instek, Hameg Instruments, Hioki EE, IET Labs, Keysight Technologies, MECO Instruments, National Instruments, Newtons4th, Rohde & Schwarz, Sanwa Electric Instrument, Scientific Mes-Technik, Siborg Systems, Stanford Research Systems, Tecpel, Yokogawa.